Wednesday, January 27, 2021

E-billing ensures transparency and saves time and money: by Team Docuflow

As the world continues to transition towards digital transformation to remove and automate paper processes, how can you embrace digitisation and make it a part of your finance process?

The brilliance of digital transformation in the finance arena and beyond, is its versatility – it can be implemented by a business regardless of size, sector or level of knowledge. You don’t need to have the technical nous to know how to build an e-billing system into your workplace. In fact, if using a different electronic billing program is something you have been actively putting off these past few years, then you can rest assured that our e-billing software will make your work life exponentially easier.

There may be a number of reasons why you may not already be using software that generates digital invoices. You might be comfortable with the familiar legacy, paper-based system that you’ve been using for years. If it is working fine and all your customers are being billed at the right time, why should you even contemplate a change? You might have tried other e-billing solutions and reverted back to your old system because it was easier to use. Or quite simply, you perhaps might not be aware of alternatives that exist, which could really streamline your processes to make your finance department work smarter.

How does our e-billing system work? Our process automation software seamlessly collects and parses data from anywhere in your business including current and legacy ERP systems. It intelligently designs the customer facing document your business requires, meaning you are bypassing any physical printing of the document saving you printing costs. These documents are then distributed in the most appropriate format before being incorporated into your workflow processes. Lastly, your documents are safely stored onto your document content management system (DCMS).

There are myriad benefits of implementing Docuflow’s e-billing solution into your business. First and foremost is the cost saving that you could be making with our solution. The cost of processing an invoice is typically between £4.00 to £25.00 but can be as high as £60.00. We often see invoices which are more expensive to process than the invoice value itself. With our “Procure to Pay” automation solutions you are able to drive down the costs of processing the invoice with real-time visibility of your invoice payments and business cashflows via intelligent dashboards.

A direct consequence of e-billing is to expedite payment by ultimately reducing Days Sales Outstanding (DSO). By working in a highly efficient, methodical manner, you are facilitating swift payment and getting a turbo-charged return on investment (ROI) through use of Docuflow’s e-billing software.

E-billing solutions will save you time and promote good feeling both with clients and employees alike. For example, a streamlined workflow means employees’ time can be put to better use in higher value tasks, instead of printing and physically posting invoices to customers.

A brilliant aspect of e-billing is transparency. Docuflow’s e-billing software means you can see at a glance the precise time, down to the second, when a document has been sent, received and viewed. This can be especially useful if you have customers who have issues with receiving invoices via post, or who consistently claim to not receiving postal invoices from you.

So how exactly does e-billing compare to posting invoices and sending via e-mail?

Did you know that the world’s first mobile phone made its debut in 1973 in a demo by John Mitchell and Martin Cooper of Motorola? It sure was a hefty handset weighing exactly 2kilograms, which is roughly the size of three bags of sugar. Comparing e-billing to physically posting invoices or e-mailing them is like comparing Mitchell’s phone in 1973, to an iPhone 12 today that weighs 160grams. E-billing technology is light years’ ahead of postal mail and e-mail, and the user experience is vastly improved.

An added bonus is that the platform is cloud-based which means you are using less paper and therefore ensuring your business is operating in more ethical, environmentally friendly manner.

Whether you are working from home or in the office, our e-billing software keeps your billing records super organised. Now is the time to explore alternatives that will effectively save you time and money. Get in touch today for a free trial and email info@docuflow.co.uk now.

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